Because we realize every client's situation, needs and goals are different, we offer an all-encompassing solution -- every aspect necessary to analyze, develop, implement and manage the appropriate plan and resources for you and your employees. To learn more about every aspect of our comprehensive solution, click on the "Interact & Learn More" button and select any of the informational cards.
Each client has unique needs and objectives, but one thing is universal -- results are best accomplished through a clearly defined plan and strategy. Although the process may vary by client, we utilize a three-step approach -- basic conceptual steps which form a scheduled and cyclical array of services that proceed to the necessary level of complexity for each client.
Strategic Planning & Objective Setting
Strategic planning integrates all aspects of your employee benefit program. Using results of the comprehensive analysis we perform for your benefit plan, we work with you to determine objectives and create a strategy. Oftentimes there are short-term fixes that must occur before the long-term objectives can be met. Your organization’s core values and philosophies play a key role in the strategic planning.
A strategic plan is a vital part of your benefit plan’s sustainability — it sets priorities and goals for the future and is used as a road map to guide decisions.
Risk & Funding Strategies
Businesses and other organizations can handle risk by transferring it to an insurance company through the purchase of an insurance policy, or alternatively, by retaining the risk and allocating funds to meet expected losses through a self-insurance arrangement. Several hybrid variations of these funding arrangements exist as well. Our team at Mark J. Becker & Associates, LLC works with you to discern the appropriate thresholds of risk transfer/acceptance and to manage the complexity based on the selected funding.
Determining the appropriate amount of risk transfer and funding method is critical for cost containment.
> How can you mitigate future claim utilization?
> What plan design changes are viable for your plan?
> Is your plan design in compliance with regulatory guidelines?
> Is your renewal fair?
> What funding type is most cost effective?
> What are the underlying cost drivers?
An analysis is a necessary step in determining the effectiveness of your benefit program and identifying areas in need of improvement. The analysis is not a one-time occurrence; it is a cyclical, in-depth review of all components of your plan. Using our proprietary analytic tools, we examine your plan’s performance in the areas of benefit design, claim utilization, risk, cost, funding, and regulatory compliance.
Results of the analysis answer vital questions and allow you to make data driven decisions.
At Mark J. Becker & Associates, LLC, we firmly believe that “you can’t manage what you don’t measure." In other words, you can’t know whether or not your plan is operating according to the strategy set forth unless it is tracked. And when the results are reported in a meaningful way you have the means to manage all aspects of your benefit plan.
We keep you up to date of the performance of your plan allowing you to remain focused on the overall goals.
Regular measurement and reporting can keep you focused on your strategic planning roadmap.
Blindly accepting a higher deductible option at renewal often leaves businesses left with disgruntled employees and no long-term solutions. Using our proprietary analytic tools, our team works to provide you with customized sustainable solutions that align to your plan and benefit philosophy. Our modeling techniques are built to ensure long-term solvency with the anticipation that a financially sound benefits plan will allow your business to achieve greater success.
Our plan design and contribution tools provide you with transparent and informed decision-making capabilities.
Evaluation of vendors, such as insurance carriers and third-party administration companies are a part of the overall services offered by Mark J. Becker & Associates, LLC. Networks, claims processing, and customer service capabilities are elements of our review.
An employer will typically have multiple insurance carriers and vendors providing components of the benefit plan. Most employers do not have the time or industry experience required to perform an objective and thorough evaluation.
Peace of mind is attained when recommendations are received from our trusted advisors at Mark J. Becker & Associates, LLC.
Implementation & Oversight
Implementation of an employee benefit plan is a highly technical, and oftentimes paper-intensive process. Our team will plan, coordinate, document and manage the process from initiation to delivery. Oversight during the implementation process serves to prevent problems, but should any glitches arise they are handled in a timely and efficient manner.
Attention to detail and proper oversight during the implementation process provides a smooth beginning for your employee benefit plan.
Proper implementation also serves as the foundation for a positive ongoing experience for both employer and employees.
Employers must communicate benefit information and various other materials, including regulatory notices, to employees. An effective communication strategy includes education and plan promotion. We will assist with an employee communication strategy, guiding you on the proper materials and distribution methods. A benefits-portal can serve as a means of electronic communication of the materials.
Informed employees and family members generally result in fewer inquiries for your HR department, a positive impact on health insurance cost, and a higher level of employee satisfaction.
Help your employees understand their benefits and become better consumers.
Employers are looking for a more efficient method of administering their benefit plans – a method that will replace the paper intensive system historically utilized by the industry. At Mark J. Becker & Associates, LLC, we provide an online enrollment system to ease this administrative burden.
Utilizing an online enrollment system provides a streamlined, cost effective administration process.
Commitment to education is a key part of the Mark J. Becker & Associates, LLC philosophy. We educate clients by providing current information on benefit trends, insurance and compliance issues, by compiling benefit and cost comparisons along with financial reporting, by teaching benefit risk management, and by promoting stewardship from all stakeholders.
Employers who have an understanding of their benefit plans, trends and other insurance and compliance matters are better equipped to remain on course with their strategic plan.
When managing benefit programs, employers are faced with the challenge of an ever-changing regulatory environment which can result in government fines and employee lawsuits. At Mark J. Becker & Associates, LLC, we have created the Benefit Compliance Program to assure our clients receive the ongoing support needed to become, and remain, compliant.
Few areas of benefit programs concern employers more than whether their programs remain in full compliance with fast-changing regulations. As a client, you receive all services offered by our compliance program, including ongoing training, updates, resources, legal research and one-on-one consulting.
Plan & Vendor Management
Plan and vendor management entails overseeing the work process between the employer and its employee benefit vendors. Our team will serve as a liaison to support a smooth relationship between the employer and the vendors.
With the expertise and experience of our team, your plan will receive the highest level of care and attention.
Vendor management is a discipline that enables organizations to drive service excellence and gain increased value from their vendors.